Westport CT Housing and Real Estate Market Report Week of 10/27/14

There are now 302 homes that are are actively on the market. These currently available properties have been listed for an average of 127 days, with a cumulative market time of 207 days. The average list price is now $2,438,910 and the median price has risen again to $1,924,500.

A four bedroom home on 7.13 acres at 66 Beachside Avenue is the highest priced home for sale at $25,000,000, and the lowest available priced home is a five bedroom home on 40 Ferry Lane East for $435,000.

Ten new listings came on the market in the last seven days, and five properties came back on the market after being under deposit, or temporarily withdrawn. Twelve properties had a price change.

Eight properties have gone under the initial deposit stage, which we call CTS, and another 10 properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

The average price of these 10 pending properties is $2,822,100. There are currently 21 homes in CTS status throughout Westport, and another 54 properties scheduled to close town-wide, with an average price of $2,292,370.

Closings: There were five single family homes reported as sold in the last week.  These home were listed on average at $1,397,800 and sold with an average market time of 207 days. There were 59 status changes in the last seven days.

Condos: There are 12 condominiums that are available, and they have been listed an average of 147 days. Their average listing price is $768,308 and the median price is $774,000.

The highest priced condo in town is $1,075,000 and is a two bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one bedroom home on Riverside Avenue for $525,000.

There were no new listings this week, and no homes came back on the market after being under deposit. There were no price changes, and one property entered into the initial stage of deposit. One home entered into pending status, and was listed at $959,000.

There are no properties town-wide that are currently in CTS status, and  there is one home scheduled to close, which is listed at $959,000.
No sales were reported during the last week, and just two status changes were reported.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 82 homes or apartments available. The median price is $3,775 per month and the average price is $4,440 per month. These year round rental opportunities have been on the market an average of 60 days.

There are 20 short-term rental opportunities that are available, and they have been on the market an average of 60 days. Their average price is $6,580 and the median price is $5,425. Please note that seasonal rental prices are sometimes listed as an aggregate price for the season, or they can be listed as per the monthly rental cost.

SOURCE: Market Data is compiled from the GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.

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 Buying or Selling a Home in Westport?  Contact us!

If you have a question about buying or selling Real Estate in  Westport, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy